PolicyPal Network and ERGO to release an insurance product

PolicyPal Network will be unveiling a brand new blockchain-empowered Flight Delay Insurance underwritten by ERGO
10 June 2018   402

As the number of flights is rising worldwide - so is the number of delays. Submitting a claim to the issuing insurer has already become a hassle. PolicyPal Network blockchain is claimed to resolve the inconvenience. The blockchain-powered automatic Flight Delay Insurance underwritten by ERGO. It will be available for purchase via the PolicyPal Singapore app starting July 1.

Flight delay insurance built on the blockchain allows for automated claims (smart contracts are going to facilitate automating claims processes and increase efficiency). The blockchain will provide transparency and immutability to improve security and validity pertaining to the information stored in smart contracts. On top of that, insurance cost on the blockchain is greatly reduced to the immutability.

At the moment of publication, PolicyPal Network market parameters are as follows:

Average price 0.028516 USD
Market cap 10,225,622 USD
Volume (24H) 41,214 USD

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   109

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.